- The State has no specific loan modification regulation; however Title 8 §9-2 regarding fraud contains provisions that may be applicable
- Section 8-9-2(3), (7)
- Certain agreements void unless in writing.
- In the following cases, every agreement is void unless such agreement or some note or memorandum thereof expressing the consideration is in writing and subscribed by the party to be charged therewith or some other person by him thereunto lawfully authorized in writing……(3) Every special promise to answer for the debt, default or miscarriage of another;…. (7) Every agreement or commitment to lend money, delay or forebear repayment thereof or to modify the provisions of such an agreement or commitment except for consumer loans with a principal amount financed less than $25,000;
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